Stocks Rather Sustained, Greenback Trading As The Strongest

Market Reviews

The greenback has significantly reinforced to trade as the firmest. The Pound rose as well. Aussie and Loonie are the weakest. Meanwhile, Nikkei reduced -0.68%, Hong Kong HSI fell -0.67%, China Shanghai SSE was down -0.16% and Singapore Strait Times dropped -0.59%. WTI crude oil stuck in diapason near 69. Gold softened to 1220. 10 year Japanese Government Bond yield increased to 0.113 around its daily maximum.

Overall, this week is full of events such as BoJ, Fed and BoE policy meetings. Fed is expected to stand pat and maintain the rates at 1.75-2.00%. But, a rate hike in December is priced in over 72% odds now. Bank of England, on the other hand, should raise rates to 0.75%.

Steven Mnuchin (US Treasury Secretary) claimed the growth momentum is a not just a “one- or two-year phenomenon”, adding: “we definitely are in period of four or five years of sustained 3 percent growth at least”. The Treasury Secretary also told that the government fully supported Fed’s decisions.

Basing on the recent survey, support of Angela Merkel’s Christian Democratic Union/Christian Social Union dropped to a 12-year minimum of 29%. Support of Social Democratic Party fell -1% to 18%. The support for far-right Alternative for Germany remained at 15%. Support for Greens increased 2% to 12%.

Today’s data marks Japanese retail sales, Swiss KOF, German Consumer Price Index, British M4 and mortgage approvals, US pending home sales.